MUZAFFARABAD (Kashmir English): The State Bank of Pakistan (SBP) has confirmed that fresh currency notes will be issued across the country including Azad Jammu and Kashmir (AJK) for this year’s Eid-ul-Fitr, which is expected to fall on March 31.
As per details, fresh notes will be supplied to the general public across Azad Kashmir through commercial banks.
In a statement, the central bank stated that “it has maintained its longstanding tradition of supplying fresh currency notes to commercial banks for Eid-ul-Fitr, enabling them to distribute these notes through their vast branch networks across the country.”
Based on the number of branches of commercial banks in the region, fresh notes are issued to commercial banks in reasonable quantities to facilitate the general public.
Furthermore, the SBP disclosed that, so far, Rs27 billion worth of fresh banknotes of various denominations have been issued to 17,000 commercial bank branches for onward distribution to the public. Additionally, the central bank assured that arrangements are in place to ensure uninterrupted access to good-quality banknotes through ATMs throughout the festive period.
To ensure fair distribution, the SBP has also deployed cash monitoring teams to carry out onsite inspections, verifying that fresh currency notes are being properly disbursed to the public.
Additionally, the central bank has affirmed that throughout the holiday season, ATM networks will continue to operate and be stocked with high-quality notes. In order to ensure that citizens receive new money in a seamless and well-organised manner before Eid celebrations, SBP has also sent out cash monitoring teams to supervise the equitable and effective distribution of new notes.
